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-increases debt, raises taxes and never balances. the top republican for budgetary issues blasted the democratic plan. >> now we know why senator reid did not want to bring up a budget. the plan from the democratic leadership is a failed plan for america. it does not alter the debt course of america, has no growth component to it. it spends more and taxes more. reporter: but these budget resolutions only require a simple majority so there are enough democrats to pass the democrats' budget resolution without republican votes needed. and so there you have republicans in the senate, all they can do is bash the plan. they cannot actually stop it. the house republicans are passing the paul ryan plan, and so then they'll go to conference and that where the heavy lifting will begin. >> shepard: the paul ripe plan has zero chance. >> it will pass the house and then they'll try to iron it out between the two plans. the paul ryan plan on its own would not be signed by president obama, would not pass the senate, burt it will pass the house. >> shepard: mike, thank you. meantime, something about our econo
by the parliament. [ inaudible [ inaudible ] >> they ordered down the blast. no tax or levy would be imposed on deposits less than $26,000. but there would have still been a fight on largeer amounts. it has people lining up at atm again today. banks remain closed. i am withdrawing some money in case of an emergency, this cypriat says. european union helped force the plan on cyprus in exchange for additional bail-out money. today, they, too, admit the seizure of private funds was a dangerous idea. >> i understand that there was a feeling, the bo in a way. >> russians have been speaking out against the approach as well. they hold up to half of the foreign investments in deposi deposits in cyprus. existing loans with moscow set to be present. >> there is a contract between russians and placement insy produce and the russian government. it's safer to put mup there. >> now the cyprus government has to figure out a new way out of the trouble. european union has to figure out if it will help lower. the banks are set to reopen on thursday. bret? >> greg palkot in london. thank you. back here at home
hear how much the $338 million jackpot breaks down after they pay taxes. "fox & friends" starts now. >>steve: welcome back to the studio. look who's back after a long vacation. >>gretchen: i knew that rooster called this morning. >>brian: is that how you got up? >>gretchen: i didn't sleep that much. i'm on a three-hour time delay. but glad to be back. nice to come back to a snowstorm on the east coast. >>brian: did you get my promo this morning? >>gretchen: i saw your lips moving and if i was reading lips correctly, i thought i heard you say? >>brian: gretchen carlson will debut her entire vacation picture by picture day by day. >>gretchen: i believe 7:30 eastern time i brought one picture. i needed marlon perkins on vacation. that's the clue. >>steve: he's unavailable. >>gretchen: i was pulling a brian for a moment. he always refers he needs marlon perkins and then we have to tell him he's no longer with us. it has to do with an animal that was very dangerous. stay tuned. great to be back. in the meantime let's get to your headlines. a last-minute deal to bail out cyprus. in exchan
anger. the deal includes a heavy tax on bank deposits. savers queued for hours to try to get their money out. now the government says all banks will be closed till thursday as it negotiates the terms of this deal. gavin hewitt starts our coverage. >> hurt, anger, outrage -- that was the mood on the streets of the cypriot capital. in exchange for european bailout, small and large savers will have to pay a one-off tax. >> we are sleeping. we all come in the morning, knowing that we were significant -- >> as a nation, it has taken us 40 years to build our economy to the level it is. with done one day -- within one day, we have shot it down. we are very betrayed. >> they can do it anywhere. live in europe, europe has betrayed us. >> at one stage, the crowd was urged to march towards the presidential palace. many people believed their savings had been guaranteed. what is clear is that the bailout deal negotiated in brussels cannot be implemented here except in the face of furious opposition. will have depositors to pay -- just reducing the amounts savers and depositors will have to pay probab
of the nation of cyprus. the government elected to come up with a plan be after the parliament levied a tax of up to 10% on anyone who had any bank deposits. now the question is whether they going to do. this is important for us and of course, that can affect our 401k. but that dow average just hit a record high. greg is following the story from london. reporter: that's right, folks today are scrambling to come up with a new way from dragging all of your done with it. they voted down a plan that would see big bites taken out of private bank accounts. again, there has to be a way to get this country out of the way. one way to do it is lax banking regulations. moscow has a stake in all this. officials are reportedly looking for a big loan. back in, with strings like energy and getting rights for the people. the banks are worrying that people. we are told that it could be closed until some kind of deal is done. atms are working. you can get about $1300 out of it and atm each and every everyday. but the hitch is that the atm's run out of money by about 7:30 a.m. so you have to get there early.
. the sequencing done right on this cut spending cuts and tax reform. things sound great and they're moving along now. but joe, as we talked about earlier, you're going to have reticent democrats. and even key congressional races who are going to slow down a bit and saying, look, i want immigration and guns dealt with, what are we doing about the economy and the budget, the debt, and tax reform? >> and this is, richard haas, you can only push people so far, i mean, not the republicans' best friend. this weekend said democrats you're about to lose me. i pay 40% federal, 15%. well, i hear we have it cued up. let's go. this is bill maher this weekend. >> -- actually do pay the freight in this country. i just saw the statistics, something like 70%. and here in california, i'm just going to say, liberals, you could actually lose me. it's outrageous what we're paying. over -- i'm willing to pay my share, but yeah, it's ridiculous. >> and not only that -- >> wow. >> people like bill maher pay 55% in california, people in new york pay over 50%. in new jersey, why is a republican sitting at 70% plus appro
tax on 350 rooms for nfl staff. waiving the 10% ticket surcharge going towards debt service on the stadium and waiving a fee funding seen skbrer youth programs and waiving a parking fee covering what the city spends on police, fire and traffic control services. no one2ouc!!rvñ calculated publc safety costs oo. it was our intention to make sure we walkway putting on a great show. and making sure we come out whole in this process. and being reimbursed in efforts. >> the tax waiver sounds like a concession but let's crunch the numbers. 350 rooms are involved. the tax is $14.25 translating into a $5,000 loss per night. hotels say they'll be booked. there are 2300 hotel rooms within two miles of the stadium. the totel tax on the rooms would offset the tax break. the hilt n onsanta clara sits adjacent to the new stadium and general managers have seen impact of the super bowl. >> i did the super bowl. it was rams and titans and that gave us a record month, far and away, crushed any numbers that hotel had done in the past for the month. >> seniors and young people facing a small ri
overwhelmingly reject a tax on savings. >> in syria, the government and rebels trade accusations of using chemical weapons in a village near aleppo. >> pope francis officially begins his papacy in rome with a promise to embrace the whole of humanity. >> in a vote expected to have wide ranging consequences, lawmakers in cyprus have delivered a decisive and overwhelming note to a government tax to lead the bank accounts. >> that means government cash for pensions, welfare, and health care could dry up as early as may. parliament voted less than an hour ago, following to be would days of high drama, handing the government and brussels a resounding defeat with no delegates voting in favor of the plan. 36 no votes and 19 abstentions. >> the house speaker had urged mp's to say no to blackmail in the vote on the bureau's own bailout package. his words clearly catching the angry mood in the chambers and on the streets. outside the parliament building, angry crowds also called for a no vote and held up signs, warning that other nations like italy and spain could be next in line. for the latest, le
's an identity thief who used this device to grab his wi-fi signal, steal his identity, file taxes and get his return. now she's got his money, and he's got a problem. >> looking forward to your tax refund? so are identity thieves, and they can steal your identity without you knowing it in order to get your refund. it happens to thousands of people every year. you have to be proactive when it comes to identity theft, especially during tax season. >> announcer: every year, millions of americans learn all it may take to devastate your life is a little personal information in the wrong hands. your identity needs protection, and no one does it better than lifelock. >> identity thieves steal from everyone. you have to protect yourself. i protect myself with lifelock. >> announcer: lifelock offers the most comprehensive identity theft protection, period. and lifelock ultimate was named "best in detection". lifelock's 24/7 proactive protection alerts you as soon as they detect an attack within their network, before it's too late. lifelock protects your social security number, money, credit, even the
country to get a bailout. very controversial because it includes a tax on bank accounts. over the weekend, nervous cypriots ran to the atms to with draw large sums. lawmakers holding a hearing today in the u.s. on the us airways/american merger. a senate judiciary committee looking into the impact the deal might have on competition. the ceos of both airlines will appear. many analysts don't expect ticket prizes to rise, because there isn't much overlap between usair and american. still airline mergers are often heated and messy. complaints about lost bags, screwed up reservations, delayed flights typically soar after two airlines combine their reservation systems. we'll continue to watch the big airline merger. >> always has the potential to be a hot mess. >> yeah. >> take a look live at the vatican. the pope now greeting the leaders from around the world. we'll tell you what he says in his next -- before his inaugural mass this morning. take you back live to rome coming up next. and then today marks ten years since the invasion of iraq. coming up john's powerful conversation with america
spent it all. >> jesse: only 30 million. >> clayton: and now talk about what the taxes look on all of this. can i play the opposite side. you win million, 25% of that lump tum gone to the federal government and 84 information gone to, 0 gone to the federal governme government. >> alisyn: and then new jersey has a high state tax as you can see, 10.8%, so 36 1/2 million will go to new jersey, i know you're thinking, can i move today to texas? and i know you shall the winner are listening and kudos for your ingenuity. yes, you might be able to move to a state with no state tax, but new jersey might still take it. >> jesse: and if chris christie has its way, going to get more of your dough because i think the 7.8 to 9.8, good luck. >> clayton: hallelujah. still taking home 216 million dollars. that's what he would get it end. >> jesse: what would you do with that kind of dough. >> alisyn: let's talk about that. >> clayton: i don't know. >> jesse: would you buy me a boat. >> clayton: i would buy you a boat first. i don't know helping starving children i would help jesse get a boat. >> j
is the answer to everything. more tax, more spending. ours is, let's save medicare, let's save social security, let's downsize the federal government to a size that is manageable and affordable. >> shannon: there are all kinds of fiscal issues with the budget, with sequester and the debt ceiling, not far off. have you offered a number of ways that you think the federal government could be cutting back. your office is good at looking at budgets and plans. you have note aid number of things that could have been done n. liu of closing the white house to public visitors, but did you have bipartisan crossover. >> i had bipartisan crossover because they're getting ready to run for election. there is a game play in the senate. this administration wants to show the american public that we can't cut $44 billion between now and september 30 without them experiencing massive pain. they have every intention to make it hurt to get the point that we need to spends every penny we are spending. which is absolutely ludicrous. it's a shame they are doing that because a lot of things -- we are going to have air
to raise the road use tax because we don't have enough to build our roads. now road use tax, that really should cause a person to think. that is a user's fee. we pay it in the gas that we buy, and we expect that when that nozzle goes into our tank and when we squeeze the nozzle to buy the gas we watch the dollars and they go up really fast when you see gas that's over four bucks a gallon, we watch those dollars go up on the pump. we also realize between the state and federal government a lot of us are paying 40-plus cents a gallon to build the road that we're wearing out with the gas we put in. that's a user's fee. when i came here and break this down and asked the question, of tax/user rth of gas fee, 18.3 cents a gallon, $1 of that, how much of that actually goes into roads and bridges? and i'll tell you it adds up like this -- then we reduce it a little bit on this number. three cents out of that dollar went for trails for bike trails, snowmobile trails and that sort of thing. 3%. there was a one time $16 million in one of our appropriation bills to do -- to clean graffiti off of the
. >> reporter: well, every year the nfl asked for its employees to be exempt from paying the taxes for the super bowl. it adds up to millions of dollars. the city of santa clara believes it can recoup that lost revenue by being the post city -- host city. imagine in 2016 this being where the super bowl is held. hosting the super bowl gave new orleans a much-needed boost and they will finalize things tonight and city leaders have said they will comply with the request for nfl workers and team members. it works out to be about 19,000 beds we're talking about it. it's a standard demand but cities can choose to shoot it down like miami did in 2010. this year, miami will comply, it just announced. with all of the money the nfl rakes in, one man we spoke to said it can afford it. >> i believe that, you know, the people that go to the super bowl that can afford those tickets, the little bit of the price they have to pay, no big deal to them. the city should be able to reason the benefits -- reap the benefits. >> reporter: super bowl tickets would be exempt from surcharges. one raising $6 million and an
the taxes for the super bowl. it adds up to millions of dollars. the city of santa clara believes it can recoup that lost revenue by being the post city -- host city. imagine in 2016 this being where the super bowl is held. hosting the super bowl gave new orleans a much-needed boost and they will finalize things tonight and city leaders have said they will comply with the request for nfl workers and team members. it works out to be about 19,000 beds we're talking about it. it's a standard demand but cities can choose to shoot it down like miami did in 2010. this year, miami will comply, it just announced. with all of the money the nfl rakes in, one man we spoke to said it can afford it. >> i believe that, you know, the people that go to the super bowl that can afford those tickets, the little bit of the price they have to pay, no big deal to them. the city should be able to reason the benefits -- reap the benefits. >> reporter: super bowl tickets would be exempt from surcharges. one raising $6 million and another that would have raised $25,000 to fund
for more than a week, tried to impose a huge tax on large deposits and restricted how much cash you could withdraw from an atm. that's exactly what's going on tonight in cyprus. a member of the eurozone as it tries to raise enough money to qualify for a big bail-out from european lenders. cnbc's michelle caruso-cabrera has the latest tonight from cyprus. >> reporter: lester, all the banks on cyprus closed for nine days now. only the atms are working and just today they announced withdrawals would be limited to only 100 euros. but many of the machines don't have any money anyway. long lines all week at the atms of cyprus' weakest bank. customers desperate to get as much cash as possible in case the bank collapses. at supermarkets, families stocking up. fearing shelves will soon be empty with all the banks closed, businesses can't pay for supplies and restock. buying so much, olga brought her two teenage sons to help. >> well, we are concerned that there will be shortages of food. so it is definitely we want to make sure. i have a family, i have to feed my family. >> reporter: tonight the p
in the bank will be taxed on them. under $130,000 it's a 6.75%, over $130,000 a 9% tax. and of course this is going to hit ordinary depositors, moms and pops, poor businesses, anybody who's got a bank account in cyprus is going to have to pay this tax. and it changes a fundamental principle of all bailouts so far. it is hitting the small people, the private investor, the private depositor. >> look at the other countries that have been bailed out. greece as a prime example where wages and retirement was slashed by more than these people are going to pay, which is a -- >> no, no, no. no, michael, it's not -- in cyprus case it's not an either or all, it's going to be a both. not only are they going to face this tax to help make up a shortfall, they're also going to have spending cuts and the government cutbacks, they're also going to have the recession that follows on as they try and make the economy back on track. this was done because some european countries believed to be the fins and germans and other northern european countries wanted to make sure they were not seen as bailing out r
a one-time tax on bank accounts. why investors are around the world including the united states are growing more concerned about what is happening in cyprus. >> we're following a developing story in nevada where a military training exercise has ended in tragedy. the marine corps says seven marines were killed in an explosion. authorities investigating the exact cause which could include a related traffic accident. >> all this happening at hawthorne army depot in western nevada, 140 miles southeast of reno. helicopters brought in to take those patients to area hospitals. >>> at least 48 people today were killed in a wave of deadly attacks across iraq. >> in all, 17, yes, 17 car bombs, 7 roadside bombs and 2 shootings, this all coming of course on the tenth anniversary of the u.s.-led invasion of iraq. >> a live report from baghdad at the bottom of the hour. ♪ >> the trumpets sounding in the vatican, today marks the official start of pope francis' papacy. >> thousands of people, francis was inaugurated. the bishop of rome. >> francis cruise through st. peters square, in an open
. granting huge tax breaks, that has to be made up somewhere. the ryan budget repeals the affordable care act except they keep the projected savings in their budget projections. the $716 billion that we heard so much about in the election last year, paul ryan keeps the savings that obamacare would generate, but eliminates the benefits. the revenues that come from some of the taxes on medical devices and other things, they keep the revenue that comes from the affordable care act, but they want to cut the benefits. so thouis is really about an ideology. the wealthiest americans have essentially captured the republican caucus. and what we see in the ryan budgity or in anything that has to do with the affordable care act, anything that has to do with the smart investments that we know we need to get the economy growing again, those are off the table. big tax cuts for the wealthiest americans that has to be made up by somebody and we know who that somebody is. >> thank you for coming in. there is no huge surprise that the ryan budget overwhelmingly passed in the house or that it failed in in the s
gas. the parliament of cyprus voted to reject a bill that would tax bank deposits in order to qualify for an international bailout package. to receive $13 billion from the e.u. and the international monetary fund, cyprus has to raise $7.5 billion on its own. but taxing people's bank accounts proved unpopular, even when the provision was added to shield small savers. banks across cyprus will remain closed until thursday to avoid a run on cash. uncertainty about the cyprus situation set markets around the world and on wall street on edge. the dow jones industrial average gained more than three points to close above 14,455. the nasdaq fell eight points to close at 3229. seven u.s. marines were killed after a mortar unexpectedly exploded during a training exercise in western nevada. military officials said that prompted the pentagon to halt the use of the mortar worldwide until an investigation can be completed. the accident happened last night at the hawthorne army depot. the marines who were killed were based at camp lejeune in north carolina. seven other marines and sailors were injure
nuts. >>> the irs. yes, the internal revenue service, is behind this "star trek" movie starring tax collectors and it's getting backlash. first, we start with developing news at this hour. secretary of state john kerry made a surprise visit to baghdad earlier today where he spoke to prime minister nuri al maliki. secretary kerry is now in amman, jordan, and so is chief foreign affairs correspondents andrea mitchell, traveling with the secretary of state. she joins us by phone now. andrea, what did secretary kerry accomplish with this trip to baghdad? >> reporter: well, it was a very tough trip and a tough message, because we went to baghdad, a quick visit. surprise, under tight security and secrecy, for obvious reasons, because ten years ar the war, there still are terror attacks. last week, when dozens were killed in baghdad. he was in a secure place in the embassy and then visiting prime minister maliki and the speaker of the parliament in iraq in their residences, but his message to mallski that the maliki government is permits iran to send weapons and fighters, overflight, loade
an amendment the medicalveal device tax in the 2010 health care law. again, the debate is underway. we caught up with a capitol hill reporter for inside information on the budget proposals in the house and senate. among the amendments they have debated and .ost: let's talk about the cr guest: congress is saying at least for today we avoided a showdown. the senate has passed it, the house passed it yesterday, and what it does is continue what we have seen from government funding. this is the era that we live in. rds that disagree on the way spending and taxes should go -- parties that disagree on the way spending and taxes should go. it keeps the sequester in place , although it does gives -- give .ome flexibility basically, it keeps in place what we thought we already had, which is a working government, sequester, and the ongoing pay freeze for federal workers. host: is the sequester here to i am starting to think that it has to be. twos harder to see how the sides reach an agreement when the democrats say let's replace half of it with taxes and republicans do not want that. i do not think de
the president wanted. >> well, he got his revenue. he has gotten his revenue. obama care has 21 new taxes. my goodness. i'd like to get rid of obama care in total and rid of those taxes. you've got to look at some of these other components of the problem. and you cannot tax your way out of this. i quite frankly liked the op-ed in "the wall street journal" today that showed our budget with the stablization pulling back on all of those spending components and putting ourselves in a position of growth would give us household income growth of $1500 in 2014 and $4,000 per household within this ten-year window. and what we're saying is, you've got to get this under control. now, the president wants to continue to spend and put new spending in place by getting new revenues. that's not workable. the american people don't want that. they want to see some spending restraints, some control, some common sense brought to bear in this budget process. >> congresswoman, i want to get you on the record about senator rand paul coming out in support of comprehensive immigration reform. right now it looks like r
a bank deposit tax of up to 9.9%. in return the country would receive a bailout worth $10 billion or worth $13 billion. the cypriot issued -- the company's banks have been crippled by debt. cyprus is expected to start a fresh round of negotiations with creditors. but the two sides are unlikely to reach an agreement any time soon. >>> insurgents have sent a message on the 10th anniversary of the invags of iraq. they killed at least 50 people and wounded more than 100. a series of bombs exploded in baghdad and several other cities. militants attack with car bombs. the iraq war began before dawn on march 20th, 2003, with u.s. air strikes on the capital. members. administration of former president bush argued that iraq possessed weapons of mass destruction, but u.s. forces failed to find evidence of sum weapons. 120,000 civilians are said to have died from the fighting or from terrorism. u.s. troops pulled out of the country in 2011. >>> the economy's recovering. iraq overtook iran last year to become the second largest oil produce iramong the members of petroleum exporting countries.
balances the budget in ten years, but with huge spending cuts and even tax cuts as well. and on the senate side, democrats raise taxes by a trillion dollars, cut spending by about the same, don't balance the budget in the near future. ultimately this doesn't have to become law, these are blueprints, but ultimately if there's any chance at dealing with the debt and deficit, these two, very different philosophies and visions. >> early april, the president comes up with his budget recommendation. a lot of people are hoping all of this will eventually result in the grand bargain, a real deal looking down the road, everyone on board basically. a deal that would avoid, for example, having to worry about raising the debt ceiling end of july, early august. is that at all doable? >> it is possible. i wouldn't go as far as saying doable now. but what i will say, the difference in approach now versus say two years ago when they tried this and it failed and it was, you know, almost the end of the world as the u.s. bumped up against the debt ceiling, the difference is they are going through what we cal
and the nfl is asking for its employees to be exempt from all local taxes and that would free members of the football team from paying a 9.5% hotel tax here in the bay area. one diehard fan said he does not think what the nfl is asking for is fair but he relishes having the super bowl here on home turf. >> reporter: now super bowl tickets will be here and one would have raised $29 million for senior programs. the city will also loose out and city leaders here say all could be made up and we did speak to them and they are expecting to find out why they asked for all of these requests. tara moriarty ktvu channel 2 morning news. >>> new details, a preschool in livermore was shut down following a series of allegations and it will not reopen any time soon. social services shut down the school on friday when they found two babies were swaddled too tightly. they also found one baby sleeping in a car seat and the other sleeping in a high chair. two employees are now banned from working at any state licensed childcare facility. >>> some counties may be sued for sending low-level offenders to c
to waive the hotel taxes that could mean millions of dollars. >> off what could help santa clara, san francisco is the fact that miami the other city competing for 2016 has told the nfl will not waive the hotel taxes. santa clara will decide if that will happen. >> we will look at that and perhaps at that time they will say the bay area is a much better deal and miami. >> will have to wait and see. do we have any idea when they make the decision. >> the owners have to get together and vote? >> may 22nd there will make the decision. they have to give the host city several years to prepare to get the infrastructure in place. they have to build facilities if necessary to host insuperable. >> if i just left norland it is huge. you need all kinds of buildings conference rooms and all these things to host the nfl media as well as the activity for the fans. >> we shall see will. thank you for the update. 7 07 we will be back with more in a couple of minutes. a live look outside as we wait for the weather is a change. if we're looking at storm had our way. will have more on the timing in a co
all local taxes and that would free members of the football team from paying a 9.5% hotel tax here in the bay area. one diehard fan said he does not think what the nfl is asking for is fair but he relishes having the super bowl here on home turf. >> reporter: now super bowl tickets will be here and one would have raised $29 million for senior programs. the city will also loose out and city leaders here say all could be made up and we did speak to them and they are expecting to find out why they asked for all of these requests. tara moriarty ktvu channel 2 morning news. >>> new details, a preschool in livermore was shut down following a series of allegations and it will not reopen any time soon. social services shut down the school on friday when they found two babies were swaddled too tightly. they also found one baby sleeping in a car seat and the other sleeping in a high chair. two employees are now banned from working at any state licensed childcare facility. >>> some counties may be sued for sending low-level offenders to county jails instead
. that means more debt, fewer jobs, and much higher taxes from the american people. we hope the president will change his mind and submit a plan that balances the budget. let's be clear, democrats in this town who reject the goal of balancing the budget are out of step. the american people know you cannot continue to spend money you do not have. i did not come here for a federal tight -- fancy title. i want to hand my kids and grandkids the same shot at the american dream that i had, not some mountain of debt. that is why republicans are working to balance the federal budget. been talk about the budget here. thatu think budgets -- they are essentially political weapons -- [indiscernible] have they just become weapons, because at the end of the day they are not binding? ofa budget is a statement each party's vision and terms of how they would cover and what they think the appropriate role of the federal government is. the house has done its part today. hopefully the senate will finish their budgets in. i would hope we can have a conversation between the chambers to see if we cannot come to
. i...i mean, you...love. . >>> the one thing we've seen is $1 trillion in higher taxes, taxing more, borrowing more and spending more is not a path to prosperity. >> that was congressman paul ryan on the hill. pleased that democrats are bringing bunts budgets to the table. maryland congressman chris van holland is the ranking member on the house budget committee. he joins me now, congressman van holland. good afternoon to you. >> good afternoon to you, luke. >> i want to get your take on house republicans are panning the democratic budgets that will be voted on tomorrow. your budget, the black caucus budget, the progressive budget, various ones have no chance of becoming law. is there any worry that the idea that republicans are putting forward that our budget balances, our budget balances, a very good sound bite that can work in mid-term elections. whereas you guys' isn't balanced until about 2040. is there any worry that the message could take hold and cause problems for you in the 2014 mid-terms? >> no, luke, for this reason -- the republican budget, the ryan budget balances on t
off that tax. i spoke a short time ago with former u.s. treasury secretary tim -- larry suckers -- i spoke a short time ago with former u.s. treasury secretary larry summers. >> it changed the world. sarah gave a was a small place -- sarajevo was a small place. it matters so much because of theexample that may be in process of being set. it has heretofore been assumed that insured deposits of ordinary citizens are as good a credit as exists in these countries. the apparent decision that is not the case, with the endorsement of the european authorities, with the endorsement of the imf, calls that into question. there is little wonder that markets are experiencing a change in the way the world that, and it is change they find unsettling. >> if you are a middle aged retiree in italy or spain today, are you really looking at what is happening in cyprus and thinking, you know what, i might take my savings out of the bank as well? is that the problem? >> certainly a sense of complete confidence that people have that other people have is attenuated by an action of this kind. inis very impor
to a tax, it is not agreeing to international bailouts. people rushed to take out their money over the weekend. the european union and the international monetary fund. >> the feeling is that the house is going to reject the bill. >> why is that? because they fear cyprus, a clash. >> how will you treat this information? what will you do with it? >> we have our own plans. >> in japan, a power cut is hitting systems that keep nuclear fuel cool at the fukushima our station. the earthquake and the tsunami to show years ago -- two years ago destroyed the part of the station. the operator assists there is no danger. >> we believe there is plenty of time before the temperatures in the polls exceed what we believe is a danger level of 65 degrees. before that happens, we will do our best to restore power. globalfootage shot by witness seems to be showing activity leading to corrupt land deals. >> this is the malaysian state, fast and a rich and resources, home to many indigenous groups. but it's future hangs in the balance, under threat from certain businessmen and politicians. >> they are t
are there, but nobody heeded them. this has long been a tax haven, a country whose banking sector is eight times the size of the economy. cyprus new what was happening in did not take action. now it is a country that is in severe crisis, and it could really set off a chain reaction across the eurozone. that said, it would be unlikely that the eurozone would let them drop out or a bailout that pales in comparison to the rest, but there will have to be a radical the calculus -- the calculation to try to stabilize the entire single currency -- a radical recalculation to try to stabilize the entire single currency. >> thank you. if you thought the euro crisis was over, it may be time to think again. let's go to syria where there is a confused picture over a potentially dangerous development tonight. the syrian government and rebels are accusing each other of launching a deadly chemical attack near the northern city of aleppo. state news claims that 25 people were killed by a rocket containing poisonous gases. the rebels denied the allegation. they are blaming the assad regime. russia supports
with the beginning, and we look for to continuing the discussions. >> cypress has long been a tax haven for russian companies who have billions of euros in separate banks, but many russians who live on the island are outraged at the proposed levy on their savings. >> this country has cheated us and stolen our money. yes, stolen. it was not their money. we brought it here. we did not earn it here. >> for now, a separate account holders are relieved that parliament shot down the proposal. >> it was time to take a stand. they are sure to find a solution. the separate people are strong. we can take a lot. we have proven that before through many tough times. >> the cypriot government is still searching for any viable solution. even the country's archbishop has offered to help by digging into the pockets of the church. 17 billion euros is the son the island needs to keep afloat, approximately equivalent to the country's economic output, and it is more than the eu is willing to put up without a significant contribution from cyprus itself. >> for more, we can go now live to nicosia where our correspondent
concerned about the eu bailout and the cyprus rejection of the eu mandated tax on the small depositors. news that the housing sector is stronger than expected helping to overcome some of the markets and today. the dow up about four points. the s&p fell to the same number, the nasdaq down almost nine. big board volume today picking up. gold moving higher, up 670, closing at 161130. crude oil dropping a dollar 58 to 9216 per barrel. the bond market and interest rates falling. the ten year treasury just under 2%. federal reserve policymakers beginning their 2-day meeting. my next guest said the fed will has been substantial, don't expect changes anytime soon. that should be music to the ears of most investors. joining us, former federal reserve vice chair princeton economist alan blinder and the author of the book after the music stops. great to have you with us. >> nice to be here. lou: let's start with cypress. this little place, million folks. they're creating quite a mess. $400 billion lost of global markets yesterday. we should blame -- >> multiple of the gdp. i actually think of like what
to the people. in colorado they allow home growing and a low tax and washington does not allow home growing and a high tax. the big problem may be that their prices are so high that they're illegally in washington because it's cheaper. >> michael: you think about pot you would think that they would bring in someone who is for it. but you're opposed to the legislation. you wrote when they would flock to california to stock up. there is no way on earth the federal government would tolerate that and instead we'll see massive federal busts of legal growers and retailers no matter how legal their activity was under state law. no friend of marijuana legalization, is that part of the idea, to bring in people of different beliefs about marijuana? >> well, nobody asked anybody on our team what our beliefs were about marijuana. in the book, which is written by four members of the team. i'm the fourth author on it. the last chapters are what would you do. there are four different essays and there are four different conclusions. the california initiative had local taxation option. california marijuana
in your mailbox. it's called austerity. last decade, we had two wars off the books while cutting taxes for the wealthy. there are ways to fix our deficit, but don't hurt the poor and middle class a carbon tax creating capital gains and income. apparently we don't really hate
slash $4.6 trillion over ten years without raising taxes. now senator patty murray will work with congressman paul ryan to try and bridge the gap between the two radically different proposals. mark, i think it would have been a public service to the american public to actually point out some of the amendments that they raised in this marathon session they had over in the senate over the weekend. >> from the sublime to the ridiculous. >> oh, my god. >> but they have a senate budget now and a house budget and i think most people think we are going to plod through this year and not have a big deal unless the president somehow comes back and reengages but a pretty big difference starting with the senate bill has lots of new revenue in it. >> give me an idea. give me an idea of the previews of coming traattractions. >> you have patty murray with her budget and paul ryan with his budget on the other side of the table. >> let's say i think they are far apart which i'm dubious as to where these negotiations will go and it comes back to what we were talking about earlier. where is the
that builds the power structure. in a state like the united states, the population pays taxes and the government is accountable and that system is not there in iraq. whoever oversees oil seizes power. that is a major factor in conditioning the mentality of the group that rules. they put their hand on that and they will not let that go. coming back to the sunnis, i remember growing up in a country where the sectarian divisions were not really relevant. we did not who was sunni or shia. a sectarian policies of saddam's regime and the oppression he imposed on the shia, this sense of being persecuted was strong -- shia.he snia. the opportunity came, there was a segment, the islamists, who were thinking now, we have got it, we will never let it go. it will be a shia government. that put the sunnis a difficult position, and in the early days they brokered the political cottedf the polit aical process. that did not work. they then joined in it. that is not working. now they are caught in a difficult position. they do not want to go to the extreme where al qaeda is because they get th
. the senate bill calls for deficit reduction through increasing taxes and spending cuts and, of course, the house bill calls for steep cuts in balancing the budget within ten years. of course, some revisions to medicare as well. a lot of differences and we have another deadline coming up. the debt ceiling will have to be revisited this summer, alex. >> looking forward to that. >> reporter: yeah, we all are. >> thank you very much, kristen welker. >>> joining me right now, andy sullivan and ann palmer. ann, i'll begin with you. the president is back from the middle east. the reviews are out there. how are you getting the word in terms of how he was perceived? >> i think one of the key things you can look at is what the israeli press put out in the days following his first steps and throughout the entire visit and it was a resounding applause. he got very good praise from them. obviously from what he was trying to do was take that frosty relationship with benjamin netanyahu and try to piece it back together. he did that. it was exactly what he needed to do. there wasn't a lot of meat on
one company that doesn't think so. >> looking forward to your tax refund? so are identity thieves. they can steal your refund. happens to thousands of people every year. you have to be proactive when it comes to identity theft, especially during tax season. >> your identity needs protection. no one does it better than lifelock. >> identity thieves steal from everyone. you have to protect yourself. i protect myself with lifelock. >> now, remember when rudy giuliani was marco rubio? remember when he was the savior of the republican party? remember when he was going to be swept into the presidency in 2008 by linking every single campaign issue to 9/11? that was actually the same year that fred thompson was briefly the savior of the republican party, until he opened his mouth in a presidential debate, and without that reverse mortgage teleprompter was as slow and lifeless as a potential party savior has ever been. it is very unlikely that republican presidential loser mitt romney will ever find himself in position that his finances are so tight that he has to go pitch reverse mortgage
say the words "carbon tax"? >> with an open mind... >> has the time finally come for real immigration reform? >> ...and a distinctly satirical point of view. >> but you mentioned "great leadership" so i want to talk about donald rumsfeld. >> (laughter). >> watch the show. >> only on current tv. [ music ] >> chatting with you live at current.com/bill current.com/billpress. this is "the bill press show," live on your radio and current tv. >> bill: all right now, 33 minutes after the hour here on this monday morning, march 25th. so good to see you today and we are now, the team is complete. breaking news stevie lee web has made it out of the ditch on the george washington parkway and he had to take care of the phones. give steve acre call at 866-55-press. he will tell you about the drive this morning. and we will get back to a big, big announcement yesterday by mayor michael bloomberg, the latest big story here for us to talk about this morning, but first, here we go. you know, i keep looking for these articles about identity theft. this one out of florida, where
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